SEOUL (Thomson Financial) - Asian central banks are concerned about a
slowing global economy and rising inflationary pressures caused by a US economic
slowdown, South Korea's central bank said Monday.
Asia's central bank chiefs including Bank of Korea governor Lee Seong-Tae
expressed such concerns during their meeting last week in Jakarta, the bank said
in a statement.
They called for strengthened supervision in Asia's financial markets, saying
downside risks to the global economy have been increasing due to the US
financial crisis, the BoK said.
The US downturn would worsen in the second quarter, the Organisation for
Economic Cooperation and Development said last week, adding the strains of the
crisis globally "are unlikely to fade soon."
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